Advantech Announces 3 “Co-Presidents” Adopting “Co-Creation” and “Holacracy” Strategies to Face the Sharing Economy in the IoT Era
(ticker: 2395.TW), a leading global provider of intelligent systems, today held
an investors conference and announced the appointment of Eric Chen, Miller
Chang, and Linda Tsai as “co-presidents.” In the future, these co-presidents
will adopt co-creation and Holacracy strategies to lead the company toward new
business opportunities in IoT. Chaney Ho, the former president, has been promoted
to Executive Director of Advantech.
the three phases of growth brought by the IoT, Advantech has been the leader of
the hardware platform industry in the first phase. In anticipation of business
opportunities that will arrive in the second phase, Advantech is planning to establish
an internal department called IoT.SENSE to focus on developing the company’s
co-creation model and the company also plans to develop solution-ready packages
(SRPs) to drive growth during the second phase. In the third phase of IoT growth,
Advantech will place particular emphasis on its co-creation business model and
accelerate the development of a business model with truly high potential for this
phase, namely the introduction of industrial IoT cloud service providers.
Advantech will thus continue to co-create as a platform provider.
Co-President Eric Chen (current CFO and CIO) stated that accepting the position presented both a
learning opportunity and a challenge, and that he will continue to lead staff
in contributing to the company, not only in finance and IT but also in management,
governance, profit, and sustainability. He also looks forward to accelerating
Advantech's development of intelligent manufacturing and smart city solutions
together with the other two co-presidents, so as to achieve the company's brand
vision of enabling an intelligent planet.
Co-President Miller Chang (current Vice President of the
Advantech Embedded Core Computing Group) believes that his main mission is to maintain
Advantech's position as the leader in the hardware platform industry during the
first phase. Advantech's future business model will focus on two areas—embedded core computing and allied design and
manufacturing services—with the primary objectives of strengthening IoT devices
and platforms and developing edge intelligence platforms.
Co-President Linda Tsai (current Vice President of the
Intelligent System Group) pointed out that the Industrial IoT Group will focus on the local
market with an emphasis on specific vertical fields, and the group aims to develop
SRPs for the second phase. The group will also establish a co-creation business
model for partners in the third phase. In addition to overseeing these developments,
she will also take on additional responsibility and support Advantech on its path
toward sustainable development.
Ho, Executive Director of Advantech, stated that he has completed his mission
for this phase since assuming the role of President in 2009, and in his capacity
as Executive Director, he will continue to push the boundaries of Advantech's
global business to gain a more stable foothold in each market. His focus will
be on realizing the full potential of the IoT industry in Taiwan. Furthermore,
to help Advantech successfully implement the co-president model, he will serve
as a mentor for the three co-presidents and other young executives, helping
them with any concerns in decision-making that they may have. He will become
the backbone of Advantech's operations.
KC Liu, Chairman of Advantech, stressed that the main directions of the IoT
business model focus on a sharing economy and cross-disciplinary integration.
Advantech must innovate its organizational structure and operations to seize
the considerable opportunities in IoT over the next 15 years. First, the Holacracy
model makes horizontal communication and talent succession more effective while
accelerating IoT innovation. Additionally, Advantech is already actively
engaged in co-creation and plans to invite organizations (Industrial Technology
Research Institute and Institute for Information Industry) and leaders from various
industries to collaborate in co-creating industrial IoT cloud service providers,
with plans to co-create at least 10 companies within 3 years for full
deployment in the IoT industry.